customer acquisition - startup extreme norway
Post on 22-Jan-2017
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Angela LeeFounder (37 Angels)Assistant Dean (Columbia Business School)
Customer Acquisition
Startup Extreme Norway
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What we’ll cover today
How to acquire customers?
What does it mean to know your customer?
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Who is their customer?
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Who is your customer?
Demographic
Gender Age Income Location
Psychographic
Personality Interests Values Lifestyle
Use case
Pain point Problem solved Value added Way to approach
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Who is their customer?
All hotels in [city] are booked
I want a cheaper option than hotels
I want to experience home away from home
I want a more personal, unique travel experience
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Who is their customer?
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What we’ll cover today
How to acquire customers?
What does it mean to know your customer?
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How are you acquiring customers?
We’ve done no
marketing!
We only need to
capture 1% of the
market….
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How are you acquiring customers?
Channel ChannelChannel
ChannelChannel
Unaware target market
Prospects
Leads
Customers
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Example 1: B2C
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Example 1: B2C
100 parents walk by in 1 hour
20 give email address
10 open email
3
Customers
Response rate highest with x
message at this time of day / yr
Campus ambassador = $60/hr
Cost to acquire customer = $20
Customer value = $100
Campus
Tabling
Direct
MailSEO
Influencer
MarketingEmail
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Example 2: B2B
50 cold calls a month
10 meetings with leads
4 meetings with
purchaser
1 Client
Identified decision maker and
path to them / purchase
Salesperson salary = $10K/mo
Cost to acquire client = $10K
Client value = $30K
Retention rate in year 2 = ?
Team knows timing to close a
customer (SMB / enterprise)
Cold
Calling
Direct
MailSEO
Trade
shows
Referral
Partners
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TractionBook.com
1) Viral Marketing
2) Public Relations (PR)
3) Unconventional PR
4) Search Engine Marketing
5) Social and Display Ads
6) Offline Ads
7) Search Engine Opt.
8) Content Marketing
9) Email Marketing
10) Engineering as Marketing
11) Target Market Blogs
12) Business Development
13) Sales
14) Affiliate Programs
15) Existing Platforms
16) Trade Shows
17) Offline Events
18) Speaking Engagements
19) Community Building
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37angels.com/resources
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Additional resources
• 10 Slides Investors Want (Slideshare AngelaWLee)• 16 Startup Metrics (Andressen Horowitz)
• Lean Startup by Eric Reis• Traction by Gabriel Weinberg
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Thank You
@37AngelsNY@angelawlee
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